SB342 Alabama 2014 Session

Summary

Primary Sponsor

Greg J. Reed

Republican

Session

Regular Session 2014

Title

Real Estate Commission, renewal research and education fee, increased, distribute proceeds to Alabama Center for Real Estate, Sec. 34-27-35 am'd.

Summary

SB342 would raise the renewal research and education fee for Alabama real estate licenses and dedicate the funds to the Alabama Center for Real Estate.

What This Bill Does

It amends Section 34-27-35 to increase the renewal research and education fee from $2.50 per year to $7.50 per year for license renewals, starting October 1, 2014. The higher fee will be collected from brokers and salespersons at renewal, in addition to the other renewal fees already required. All proceeds from the new $7.50 renewal fee will go to the Alabama Center for Real Estate. The act becomes law immediately after approval, with the fee change taking effect on October 1, 2014.

Who It Affects

• Real estate brokers and salespersons renewing their licenses in Alabama, who would pay the higher $7.50 renewal research and education fee.
• The Alabama Center for Real Estate, which would receive the proceeds from the increased renewal fee.

Key Provisions

• Increases the renewal research and education fee from $2.50 to $7.50 per year, effective October 1, 2014.
• Directs that the $7.50 renewal fee collected be distributed to the Alabama Center for Real Estate.
• The renewal fee remains in addition to other license renewal fees for brokers, salespersons, and companies.
• The act becomes effective immediately after passage, with the fee change applying on October 1, 2014.

AI-generated summary using openai/gpt-5-nano on Feb 24, 2026. May contain errors — refer to the official bill text for accuracy.

Subjects

Real Estate Commission